Measuring the value of “all play and no work”: can rigorous assessment of simulation games drive innovative teaching in construction?

The construction field is dynamic and dominated by complex, ill-defined problems for which myriad possible solutions exist. Teaching students to solve construction-related problems requires an understanding of the nature of these complex problems as well as the implementation of effective instructional strategies to address them. Traditional approaches to teaching construction planning and management have long been criticized for presenting students primarily with well-defined problems - an approach inconsistent with the challenges encountered in the industry. However, growing evidence suggests that employing innovative teaching approaches, such as interactive simulation games, offers more active, hands-on and problem-based learning opportunities for students to synthesize and test acquired knowledge more closely aligned with real-life construction scenarios. Simulation games have demonstrated educational value in increasing student problem solving skills and motivation through critical attributes such as interaction and feedback-supported active learning. Nevertheless, broad acceptance of simulation games in construction engineering education remains limited. While recognizing benefits, research focused on the role of simulation games in educational settings lacks a unified approach to developing, implementing and evaluating these games. To address this gap, this paper provides an overview of the challenges associated with evaluating the effectiveness of simulation games in construction education that still impede their wide adoption. An overview of the current status, as well as the results from recently implemented Virtual Construction Simulator (VCS) game at Penn State provide lessons learned, and are intended to guide future efforts in developing interactive simulation games to reach their full potential.

Gender differences in ultimatum games: despite rather than due to risk attitudes

We analyze experimental data obtained from an ultimatum game framed as a situation of employee-employer negotiation over salaries. Parallel to this, we elicit subjects' risk attitudes. In the existing literature, it has often been conjectured that gender differences in strategic environments are partly due to differences in risky decision making. Our evidence suggests that both gender and risk-related effects co-exist in ultimatum bargaining. However, differences in risk attitudes cannot explain gender effects in ultimatum bargaining.

Accounting for risk aversion in repeated prisoners’ dilemma games: an experimental test

We apply experimental methods to study the role of risk aversion on players’ behavior in repeated prisoners’ dilemma games. Faced with quantitatively equal discount factors, the most risk-averse players will choose Nash strategies more often in the presence of uncertainty than when future profits are discounted in a deterministic way. Overall, we find that risk aversion relates negatively with the frequency of collusive outcomes.

The ideal self at play: the appeal of video games that let you be all you can be

Video games constitute a popular form of entertainment that allows millions of people to adopt virtual identities. In our research, we explored the idea that the appeal of games is due in part to their ability to provide players with novel experiences that let them “try on” ideal aspects of their selves that might not find expression in everyday life. We found that video games were most intrinsically motivating and had the greatest influence on emotions when players’ experiences of themselves during play were congruent with players’ conceptions of their ideal selves. Additionally, we found that high levels of immersion in gaming environments, as well as large discrepancies between players’ actual-self and ideal-self characteristics, magnified the link between intrinsic motivation and the experience of ideal-self characteristics during play.

On a resurgence of management simulations and games

The past few years have seen a significant resurgence of interest in ‘management games’ and ‘management flight simulators’, one particularly active source of such work being the system dynamics community. After proposing a distinction between games and simulations, this paper provides some background to these developments by briefly describing the historical roots of the field and the fundamental ideas of the system dynamics community, which are now giving rise to ‘microworlds’. The training advantages of management simulations and games are then discussed. The paper closes with a note on the research and findings of the system dynamics field and by offering some words of warning on the perils of simulation and game use. Two scenarios for how the use of simulations and games as management education devices might develop in the future are proposed. An Appendix describes five examples of very different types of management simulations and games.

The determinants and effects of board nomination committees

This article assesses the corporate governance-related antecedents of nomination committee adoption, and the impact of nomination committees’ existence and their composition on board independence and board demographic diversity. We conducted a longitudinal study of board composition amongst 210 Swiss public companies from January 2001 through December 2003, a period during which the Swiss (Stock) Exchange (SWX) introduced new corporate governance-related disclosure guidelines. We find firms with nomination committees are more likely to have a higher number of independent and foreign directors, but not more likely to have a higher number of female board members. Further, the existence of nomination committees is associated with a higher degree of nationality diversity but is not related to board educational diversity. We also find that nomination committee composition matters in the nomination of independent and foreign, but not of female directors. Our results suggest that understanding different board roles and composition require a multi-theoretical approach, and that agency theory, resource-dependence theory and group effectiveness theory help to explain different aspects of board composition and effectiveness. Finally, the article discusses the concept of diversity and appropriate ways to study diversity in a boardroom context.

Bargaining over strategies of non-cooperative games

We propose a bargaining process supergame over the strategies to play in a non-cooperative game. The agreement reached by players at the end of the bargaining process is the strategy profile that they will play in the original non-cooperative game. We analyze the subgame perfect equilibria of this supergame, and its implications on the original game. We discuss existence, uniqueness, and efficiency of the agreement reachable through this bargaining process. We illustrate the consequences of applying such a process to several common two-player non-cooperative games: the Prisoner’s Dilemma, the Hawk-Dove Game, the Trust Game, and the Ultimatum Game. In each of them, the proposed bargaining process gives rise to Pareto-efficient agreements that are typically different from the Nash equilibrium of the original games.

Corporate governance in Fiji’s Native Land Trust Board

This article examines corporate governance in one of Fiji’s largest trust organisations, the Native Land Trust Board. The principal-agent framework is utilised to analyse the governance issue in this study. An examination of the annual reports and final accounts over the last three decades indicates that poor governance practices by the agent have resulted in the Board not delivering maximum returns to its principal, the landowners.